Gold price technical analysis 26-1-2017 indicate that gold price will watch a decline after the rise of Dow Jones yesterday.
Gold price technical analysis 26-1-2017.
The yellow metal watched a neglect after the rise in Stock market. The price of gold continued its negative pressure to test the level of 1197.10 U.S.D / Ounce of gold. Trying stabilizing below it, gold price incurring further losses. With negative goals begin to test the level of 1183.83 U.S.D / Ounce of gold. We would watch a new support at the level of 1180.11 U.S.D / Ounce of gold.
Bearish bias will likely stay unless the price could rise above 1197.10 U.S.D / Ounce of gold. The supporting and resistance levels will be between 1890.11 U.S.D / Ounce of gold and 1210 U.S.D / Ounce of gold. that narrow trading level of gold rate will cause a fluctuate in gold price tomorrow.
The stock market rise yesterday pushed investors away from gold. The issue which caused gold to decline and go away from the competition in Forex.
we may watch a rise tomorrow if small investors headed to gold due to its low price.